Page 25 - Plastics news December 2023

AIPMA AT WORK
CEO ROUNDTABLE

 Discussion on to develop a comprehensive export strategy to expand market share globally, tapping into emerging
markets and strengthening existing international partnerships.

 Diversification of Product to identify opportunities for diversification within the plastic industry, exploring new
product lines and market segments.

 Supply Chain Optimization: Streamline and optimize the supply chain to reduce lead times, enhance reliability, and
improve overall efficiency in serving international clients.

 It showed the need to conduct in-depth market research to identify trends, demand patterns, and potential areas
for growth in target export markets.
 Investment and Encouragement was observed for investments in expanding domestic production capabilities to
substitute imports and meet the growing demand for plastic goods within the country. The Roundtable showcased
Government and Industry Collaboration with Department of Chemicals and Petrochemicals which created a
conducive environment for import substitution, including policy support and incentives.
The CEO Roundtable report outlined a comprehensive 10-year vision for the plastic industry, emphasizing sustainability,
innovation, and expansion. By strategically transforming the industry for export growth and building domestic capabilities
through import substitution, the plastic industry is poised to achieve significant and sustainable growth, contributing to
the overall economic development of the nation.

PLASTICS NEWS 2525
December 2023 PLASTICS NEWS